Binance confirmed its $70 billion in assets

Binance confirmed its $70 billion in assets
The trading platform presented the addresses where it stores cryptocurrency to confirm its assets

Cryptocurrency exchange Binance has published the addresses of its hot and cold wallets to confirm its reserves. In particular, the company indicated that it holds 475,000 BTC ($8.265 billion at current exchange rates), 4.8 million Ethereum ($5.76 billion) and 17.6 billion USDT (Stablecoin, the rate of which is tied to the value of the U.S. dollar).

The trading floor also owns 21.7 billion BUSD tokens, 601 million USDC and 58 million BNB ($16.82 billion). The total assets of the trading platform is estimated at $70.746 billion. The company stressed that this is not complete information, all data will be reported after the audit.

Binance published its cryptocurrency wallet addresses after its competitor, trading platform FTX, was on the verge of bankruptcy due to liquidity problems. Reuters reported citing sources that FTX CEO Sam Bankman-Fried has transferred at least $4 billion from FTX funds, which include customer funds, to his company Alameda Research to support it after losses from a number of transactions.